First Manhattan CO. LLC. Boosts Position in Kinsale Capital Group, Inc. $KNSL

First Manhattan CO. LLC. boosted its holdings in shares of Kinsale Capital Group, Inc. (NYSE:KNSL) by 19.6% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 614,647 shares of the financial services provider’s stock after buying an additional 100,600 shares during the quarter. First Manhattan CO. LLC. owned 2.64% of Kinsale Capital Group worth $240,401,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the business. AQR Capital Management LLC grew its stake in shares of Kinsale Capital Group by 76.2% during the 1st quarter. AQR Capital Management LLC now owns 835 shares of the financial services provider’s stock worth $397,000 after purchasing an additional 361 shares during the period. EverSource Wealth Advisors LLC grew its stake in shares of Kinsale Capital Group by 72.9% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 102 shares of the financial services provider’s stock worth $49,000 after purchasing an additional 43 shares during the period. Brown Advisory Inc. grew its stake in shares of Kinsale Capital Group by 7.9% during the 2nd quarter. Brown Advisory Inc. now owns 1,117 shares of the financial services provider’s stock worth $541,000 after purchasing an additional 82 shares during the period. Jump Financial LLC grew its stake in shares of Kinsale Capital Group by 136.9% during the 2nd quarter. Jump Financial LLC now owns 1,097 shares of the financial services provider’s stock worth $531,000 after purchasing an additional 634 shares during the period. Finally, Cerity Partners LLC grew its stake in shares of Kinsale Capital Group by 45.3% during the 2nd quarter. Cerity Partners LLC now owns 5,021 shares of the financial services provider’s stock worth $2,430,000 after purchasing an additional 1,566 shares during the period. 85.36% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Kinsale Capital Group

In related news, CEO Michael P. Kehoe sold 22,576 shares of Kinsale Capital Group stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $302.66, for a total value of $6,832,852.16. Following the sale, the chief executive officer owned 308,048 shares of the company’s stock, valued at approximately $93,233,807.68. This trade represents a 6.83% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Christopher R. Tangard bought 330 shares of the stock in a transaction on Monday, June 8th. The shares were acquired at an average cost of $304.00 per share, for a total transaction of $100,320.00. Following the purchase, the chief accounting officer owned 380 shares in the company, valued at $115,520. The trade was a 660.00% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 5.60% of the stock is owned by corporate insiders.

Kinsale Capital Group Price Performance

Kinsale Capital Group stock opened at $309.05 on Thursday. The company’s fifty day moving average price is $321.92 and its 200 day moving average price is $359.08. Kinsale Capital Group, Inc. has a 1 year low of $287.20 and a 1 year high of $512.76. The stock has a market capitalization of $7.13 billion, a P/E ratio of 13.60, a P/E/G ratio of 1.01 and a beta of 0.91. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.10 and a current ratio of 0.10.

Kinsale Capital Group (NYSE:KNSL) last released its quarterly earnings results on Thursday, April 23rd. The financial services provider reported $5.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.70 by $0.41. Kinsale Capital Group had a net margin of 27.48% and a return on equity of 25.82%. The firm had revenue of $466.71 million for the quarter, compared to analysts’ expectations of $410.25 million. During the same quarter last year, the company earned $3.71 EPS. The firm’s revenue for the quarter was down .5% compared to the same quarter last year. As a group, equities research analysts anticipate that Kinsale Capital Group, Inc. will post 20.54 earnings per share for the current fiscal year.

Kinsale Capital Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, June 11th. Investors of record on Thursday, May 28th were paid a $0.25 dividend. The ex-dividend date of this dividend was Thursday, May 28th. This represents a $1.00 dividend on an annualized basis and a yield of 0.3%. Kinsale Capital Group’s dividend payout ratio (DPR) is currently 4.40%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on KNSL shares. Cantor Fitzgerald dropped their price objective on shares of Kinsale Capital Group from $360.00 to $280.00 and set a “neutral” rating on the stock in a research note on Thursday, April 9th. Weiss Ratings cut shares of Kinsale Capital Group from a “hold (c)” rating to a “hold (c-)” rating in a research note on Monday, April 27th. BMO Capital Markets cut shares of Kinsale Capital Group from a “market perform” rating to an “underperform” rating and set a $348.00 price objective on the stock. in a research note on Wednesday, February 25th. Truist Financial dropped their price objective on shares of Kinsale Capital Group from $450.00 to $405.00 and set a “buy” rating on the stock in a research note on Monday, April 27th. Finally, Jefferies Financial Group cut shares of Kinsale Capital Group from a “hold” rating to an “underperform” rating and dropped their price objective for the stock from $392.00 to $312.00 in a research note on Thursday, March 19th. Two analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $390.18.

About Kinsale Capital Group

Kinsale Capital Group, Inc (NYSE:KNSL) is a specialty property and casualty insurance company headquartered in Richmond, Virginia. Established in 2009, the company focuses on underwriting complex and underserved risks across the United States. Kinsale operates through a network of wholesale brokers and independent agencies, offering tailored coverage solutions for a range of niche industries.

The company’s product portfolio includes general liability, business auto, professional liability, environmental liability, inland marine, cyber liability, and other specialty lines.